Facebook, Amazon chiefs see wealth balloon amid pandemic—report

(FILES) In this file photo Founder and CEO of US online social media and social networking service Facebook Mark Zuckerberg reacts upon his arrival for a meeting with European Commission vice-president in charge for Values and Transparency, in Brussels, on February 17, 2020. (Photo by Kenzo TRIBOUILLARD / AFP)

The fortunes of US billionaires rose 15 percent in the two months since the coronavirus pandemic hit, a study found, with Amazon boss Jeff Bezos and Facebook chief Mark Zuckerberg seeing massive gains.

The more than 600 billionaires in the United States became even richer as tech stocks rose during virus lockdowns, an analysis of data by two think-tanks published Thursday said.

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Between March 18 and May 19, their total net worth increased by $434 billion while the coronavirus pandemic caused job losses and economic agony for tens of millions of Americans.

Bezos’ wealth grew over 30 percent to $147.6 billion, while Zuckerberg’s fortune leapt by more than 45 percent to $80 billion, according to the research by Americans for Tax Fairness and the Institute for Policy Studies’ Program for Inequality. The analysis was based on data from Forbes billionaires list.

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